Shanghai Man: VeChain still popular in China, crypto media shutdown and OKEx goes global

Shanghai Man: VeChain still popular in China, crypto media shutdown and OKEx goes global

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industrys most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Its been over half a year since the crackdowns began in China and pressure from the top-down government is still being enforced. Most projects operating from within China are finding ways to skirt regulations by focusing on the technological aspect, but few are in a very enviable position. Among other issues, finding talented individuals to hire will certainly become more difficult as conservative-minded local citizens will have concerns about safety and the sustainability of the industry.

At home with new policies

Some projects, like VeChain, are using the opportunity to focus on their blockchain-as-a-service technology and are well positioned to continue operations. Blockchain has always been viewed as an important technology for China, especially when used for things like food safety and other socially-responsible applications.

Last week the smart contract platform boldly attended Chinas acclaimed International Import Expo, where it showed off its traceability system alongside long-term partners PwC. The expo was even bigger than usual this year due to this marking the 20th anniversary of China joining the WTO. Chinese president Xi Jinping gave a it was exiting the country, opening a path for Huobi Singapore to make a compliant entrance.

Users will have till March of next year to switch to the Huobi Singapore service, at which point their Global accounts will be closed. Singapore has been a safe haven for many of the industrys largest players, leaning on a progressive regulatory environment, high quality of life, and a multi-cultural atmosphere for both English and Chinese speakers to feel at home.

Continued crackdown on media and mining

On October 13, top blockchain media companies received notice from the Cyberspace Administration of China ordering them to stop their operations. Among them were ChainNews and Block123, two of the more established platforms.

Servers on Alibaba Cloud cut off relevant services, turning off the APP and web page. Twitter and Telegram channels were naturally not affected, making overseas outlets one of the few places where Chinese users could go for information. This requires some additional networking tools to get around the great firewall, but should have the intended result of eliminating excessive retail speculation while allowing the true tech adopters to still take part.

 

For industry participants, stability is hard to come by

 

In other regulatory news, the Chinese government has

 

 

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